Patrick R. Donahoe Jan. 14 took the oath of office as the 73rd Postmaster General of the United States. He vowed to return the U.S. Postal Service to profitability as he announced a new partnership with eBay and an expanded forever stamp program.
"I am confident that we will emerge as a profitable, market-responsive organization that competes for customers and delivers even greater value to the American people," Donahoe said.
The U.S. Postal Service estimates it lost about $6 billion in its 2010 fiscal year. The new Postmaster General said he will work with Congress and the Administration to recover approximately $6.9 billion the Post Office overpaid into the Federal Employees Retirement System, according to an Aug. 16 report from the agency's Office of the Inspector General.
"We are looking for every opportunity to control costs and raise revenue. We will do everything we can to ensure that money can be used by the Postal Service to prefund retiree health care or pay down debt and avoid repeating the situation we found ourselves in with CSRS [The Civil Service Retirement System] and prefunding retiree health benefits," Donahoe said.
Under a five-year contract with eBay signed earlier this week, the USPS will provide online tools and marketing programs to help small businesses grow through the use of direct mail and competitive shipping prices.
"Our alliance with eBay continues to strengthen and grow. This new contract builds on the trust the eBay community has invested in us as their leading shipper of choice," Donahoe said.
Beginning with the Jan. 22 issuance of the Lunar New Year stamp, all commemorative stamps will become forever stamps. Once purchased, the stamps are valid literally forever - despite any future price changes. No additional postage will ever be needed, the USPS said.
The Governors of the Postal Service appointed Donahoe Postmaster General in October; he accepted the duties of the position on Dec. 7. Louis J. Giuliano, Board of Governors chair, administered the oath of office Friday.
-- Contact Thomas L. Gallagher at email@example.com.